Brokerages predict that AXT Inc (NASDAQ:AXTI) will post earnings of $0.10 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for AXT’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.09. AXT posted earnings per share of $0.11 during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.1%. The business is expected to issue its next earnings report after the market closes on Wednesday, October 31st.
On average, analysts expect that AXT will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.35 to $0.38. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.50 per share, with EPS estimates ranging from $0.49 to $0.51. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow AXT.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $27.12 million during the quarter, compared to the consensus estimate of $26.10 million. AXT had a net margin of 13.51% and a return on equity of 7.72%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share.
A number of research firms recently issued reports on AXTI. BidaskClub downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine downgraded shares of AXT from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Dougherty & Co reissued a “buy” rating on shares of AXT in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of AXT from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Tuesday, July 24th. Finally, B. Riley increased their price target on shares of AXT from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.17.
Hedge funds have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC bought a new position in AXT in the second quarter worth about $112,000. Millrace Asset Group Inc. bought a new position in AXT in the first quarter worth about $130,000. MetLife Investment Advisors LLC raised its stake in AXT by 220.7% in the second quarter. MetLife Investment Advisors LLC now owns 18,990 shares of the semiconductor company’s stock worth $134,000 after buying an additional 13,069 shares in the last quarter. FNY Investment Advisers LLC bought a new position in AXT in the second quarter worth about $141,000. Finally, Bank of America Corp DE raised its stake in AXT by 804.2% in the second quarter. Bank of America Corp DE now owns 31,746 shares of the semiconductor company’s stock worth $223,000 after buying an additional 28,235 shares in the last quarter. 55.08% of the stock is owned by institutional investors.
Shares of NASDAQ:AXTI traded up $0.26 during midday trading on Monday, hitting $6.29. 467,323 shares of the stock traded hands, compared to its average volume of 431,048. AXT has a one year low of $5.80 and a one year high of $10.75. The company has a market cap of $282.50 million, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09.
AXT Company Profile
AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It manufactures semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, lasers, military wireless RF amplifiers, infrared motion control, and infrared thermal imaging products.
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